Index Action
Nifty50
The Nifty50 extended gains to a second straight session on Monday and reclaimed 18,000 mark. Except Pharma, all other sectors witnessed buying interest as the Nifty50 closed 190 points higher at 18,003.
Nifty50’s monthly options expiring on January 27 have sizable positions at 18,000 and 18,500 call options and 17,000 and 17,500 put options.
Nifty50’s weekly options expiring on January 13 have sizable positions at 18,000 and 18,500 call options and 17,500 and 17,800 put options.
As per options data, the broad range for Nifty50 is between 16,800 and 18,800 levels. Its immediate support is at 17,500 and resistance is at 18,300 levels.
Bank Nifty
Bank Nifty continued its strong run with a broad based rally as 11 of out of the 12 stocks closed in the green. It ended the day 608 points higher at 38,347.
Bank Nifty50’s monthly options expiring on January 27 have sizable positions at 38,000 and 39,000 call options and 37,000 and 38,000 put options.
Bank Nifty50’s weekly options expiring on January 13 have sizable positions at 39,000 and 38,500 call options and 38,000 and 37,500 put options.
As per the options data, the broad range for Bank Nifty, is between 36,800 and 39,600 levels. Its immediate support is at 37,400 and resistance is at 38,900 levels.
Stock Action
Today’s top gainers were GMR Infra, BHEL, IDFC, Bank of Baroda and City Union Bank.
Today's top losers were Ipca Labs, Coforge, L&T Technology, Wipro and SBI Cards.
Sector Update
Among the Nifty sectoral indices, Auto and Media have emerged as the leading sectors with buying interest today. Stocks like Hero Motocorp, Maruti Suzuki, Tata Motors, PVR and Zee Entertainment closed in the green.
The Pharma sector came under selling pressure today. Stocks like Ipca Labs, Divis, Laurus Labs and Pfizer closed in the red.
Major News
As per reports, the Union government is likely to miss the disinvestment target for FY22 even if it rolls out the much awaited IPO of LIC before 31 March, 2022.This would be the third consecutive year where it is falling short of the budgeted numbers.